A 1966 Wavy 2, Finally.

Mintage of the London mint '66 is 30,000,000 coins. With the scarcity of this coin, it is more than likely that there was only one die with this variety. An un-circulated example will set you back upwards of $2500, if you can find one.

Alistair, I would grade my coin as Fine. I tend to grade them on a par with pre-decimals, in that similar wear gets a similar grade. But then you have to take into account the dings and scratches as you said. The high speed minting process, rough handling and bagging procedures tends to bring a lot of coins down a grade straight out of the mint. I have pulled coins straight from security rolls that are pretty much straight from the mint that are too dinged to grade un-circulated. Even the rolls of APEC and Scout dollars from the mint have marks on them.
In that regard, I grade circulated coins with obvious wear as per pre-decimals, and coins pulled soon after release without any or much wear as if they didn't have the scratches and bag marks, and then adjust for these defects. An example would be the last 2009 $2 I pulled from circulation, they came from a bag that was opened at the register right in front of me. Both were un-circulated in a strict sense, yet one was so dinged I could only grade it Ef, so I spent it.

Chequer,
Here is the url for an Australian coin that uses stylised waves to show the relationship between water and the environment. Note that the 'waves' are actually a tree. The 1993 Landcare Dollar

http://www.cruzis-coins.com/silverd...rs/1993.html